Actuarial Practice

The aim of Actuarial Practice is to use the technical and business skill learnt in the Actuarial Statistics, Actuarial Mathematics and Business subjects combining them with new material on how the skills are applied to solve real world problems. 

The material provides the essential knowledge of risk management techniques and processes required by all actuaries and is an essential introduction to Enterprise Risk Management, subject SP9 and the Chartered Enterprise Risk Actuary qualification. The course also underpins all the other SP and SA subjects.

CP1 Exam – Paper 2 Guidance

With Colin Thores. Filmed on 31 March 2020.

Actuarial Practice (CP1)

Core Practices

Actuarial Practice (CP1) builds on the technical material covered in all the earlier subjects and uses the techniques learnt to solve practical problems that might arise in any area in which actuaries practice. Additional material on risk management is introduced as an essential introduction to the Chartered Enterprise Risk Actuary qualification.

Please note - Students have three hours and 20 minutes to complete CP1 Paper 1 & 2. Students are expected to read the question in full, and they can look at the formulae and tables. Students are also advised that they should spend an appropriate amount of their time within the exam planning their answers.

From September 2021, an additional 5 minutes has been added to each paper to allow for candidates to download or print, if required, their exam paper.

Actuarial Practice (CP1) core reading is available from the IFoA E-Shop or our tuition provider ActEd (BPP).

Past papers and examiners reports for CP1

CP1 Specimen Exam Paper 1

CP1 Specimen Exam Solutions Paper 1

CP1 Specimen Case Study Paper 2

CP1 Specimen Exam Solutions Paper 2

CP1 Syllabus for 2024 Exams (PDF, 111 KB)

Actuarial Practice (CP1) core reading

Exam format: 2 x computer-based exams (Word), 3 hours and 20 minutes each

Recommended study hours: 400